ELD Results of Skouries Project Feasibility Study outCheers to the patient investors and Seasons Greetings!
Feasibility Study Highlights1
- Robust Economics:
- 19% after-tax Internal Rate of Return (“IRR”) and $1.3 billion after-tax Net Present Value (“NPV”) (5%), based on long-term prices of $1,500 per ounce (“oz”) gold and $3.85 per pound copper.
- IRR of 24% and NPV (5%) of $1.8 billion using approximate spot prices of $1,800 per oz gold and $4.25 per pound copper.
- 2.9 million ounce Life of Mine (“LOM”) gold production
- Average annual production of 140,000 oz of gold and 67 million pounds of copper (approximately 312,000 oz gold equivalent) over a 20-year mine life.
- Average annual gold production of 182,000 oz in the first 5 years of production.
- Negative cash operating cost of $(368) per oz sold over the LOM.
- Negative All-In Sustaining Costs (“AISC”) of $(17) per oz sold over the LOM.
- Initial capital costs to complete the Skouries project of $845 million, an increase of 23% over the March 2018 Pre-Feasibility Study1 (“PFS”), primarily related to increased input prices, scope change related to water management and an enhanced execution plan.
(1) PFS filed as a technical report in March 2018 titled “Technical Report, Skouries Project, Greece” with an effective date of January 1, 2018.
“The completion of the Skouries FS is an important milestone for the Company. The results of the study reflect the robust economics of this world-class asset that will support our growth strategy,” said George Burns, Eldorado’s President and CEO. “Eldorado is looking forward to expanding our production profile at the Kassandra Mines and developing this region as a cornerstone for the Company.”
To read more:
https://www.globenewswire.com/news-release/2021/12/15/2353136/0/en/Eldorado-Gold-Announces-Results-of-Skouries-Project-Feasibility-Study-After-Tax-NPV-of-US-1-3-Billion-and-IRR-of-19.html